Addressing Regulatory Challenges: Binance.US Appoints Ex New York Fed Chief
Binance.US, a leading U.S. licensed and regulated cryptocurrency exchange and the crypto trading platform for US residents, announced on Tuesday the appointment of Martin C. Grant, former Federal Reserve Bank of New York Chief Compliance and Ethics Officer, to its board of directors.
The announcement of Binance U.S. appointing Mr. Grant as a new board member for BAM Management US Holdings, Inc. was welcomed by crypto enthusiasts in the United States, citing his decades of experience as significant in reviving the struggling crypto platform.
We are proud to welcome Martin C. Grant, former @NewYorkFed Chief Compliance & Ethics Officer, to the https://t.co/AZwoBOh0gq board.
With over three decades of regulatory, legal, and compliance experience in government and the digital assets industry, Mr. Grant will continue to… pic.twitter.com/LumyL54R14
According to a press statement by Binance, Norman Reed, Interim CEO of Binance.US, said the addition of Martin, a world-class legal and ethical compliance executive with three decades of regulatory, legal, and compliance experience in government and the digital assets industry, will improve compliance efforts and restore users’ trust in its services.
Reed believes this appointment is important to navigate the current regulatory environment and steer the company in the right direction.
Mr. Grant's educational experience includes graduating with a bachelor’s degree in politics from Princeton University and a Juris Doctor (J.D.) from Harvard Law School.
After which, he started his career as a law clerk and staff attorney (from 1990 to 2005) before working as the New York Fed’s Chief Compliance and Ethics Officer for over 30 years (2005–2022) at the Federal Reserve Bank of New York, where he was able to establish a strong network across the U.S. government and with central banks around the globe.
Expressing his excitement about the appointment, Mr. Grant, who currently serves as Global Head of Regulatory Affairs and Integrity at JST Digital, said,
● It is an honor to join the Binance.US Board and be part of an organization built from the ground up to connect Americans to the digital asset industry in a safe, responsible, and compliant manner.
● The American digital asset industry is at an inflection point, and I am excited to help guide the future of one of the country’s most influential and customer-centric crypto platforms.
This announcement is also following the world’s largest cryptocurrency exchange, Binance,'s establishment of its first board of directors seven years after its launch without a board.
Earlier in February, Binance Holdings formed a seven-member Board of Directors, appointing Gabriel Abed, the former ambassador of Barbados to the UAE, as the Chairman of the Board as of March 7.
Other board members include Binance CEO Richard Teng, senior executives Heina Chen, Jinkai He, Lilai Wang, Arnaud Ventura, managing partner at investment firm Gojo and Co., and Xin Wang, CEO of Bayview Acquisition Corp.
In November 2023, Binance, which operates the largest cryptocurrency exchange globally in terms of trading volume, appointed Richard Teng as CEO. This was announced after the former CEO and founder, Changpeng Zhao, resigned as CEO as part of a US$4.3 billion settlement with the US Department of Justice.
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